What is the Taiwan Entrepreneur Visa? Everything You Need to Know

Overview of Taiwan Entrepreneur Visa

Starting or expanding a business in a foreign country can be complicated, especially when obtaining a resident visa. If you have been exploring different entrepreneur visa options, you might already be familiar with common choices such as those offered by the United States, Germany, or Japan. However, one lesser-known option worth exploring is the Taiwan Entrepreneur Visa. If you are eyeing the Asian or Taiwanese market, the Taiwan Entrepreneur Visa program could be a viable opportunity to explore.

Initiated by Taiwan's Ministry of Economic Affairs, Small and Medium Enterprise Administration in 2015, this program aims to attract and assist foreign startups and innovative entrepreneurs looking to establish or expand their businesses in Taiwan. This article will cover everything you need to know about the Taiwan Entrepreneur Visa, including its benefits, requirements, and application process. If you are considering starting or expanding your business in Taiwan and want to learn more about this opportunity, keep reading.

Requirements for the Taiwan Entrepreneur Visa

To apply for the Taiwan Entrepreneur Visa, the applicants’ startup or business plan must meet one of the qualification criteria outlined in the Review Directions of Entrepreneur Visa Qualification for Foreign Nationals document and submit a set of required documents. One primary requirement is the endorsement of a business idea/concept or professional expertise by a variety of predetermined methods by the competent authority, such as

- Securement of investment from a venture capital

- Winning a startup or design competition

- Patented or demonstrable innovative intellectual property

- Already operating at a specific government-approved location in Taiwan

Recognizing the importance of the support startups need, the support available to its ecosystem continues well after market entry. This has been accomplished in the recent decade by the Taiwanese Government’s (central and local) stimulation of the implementation of various startup ecosystem support programs, including startup hubs, incubators, accelerators, and more.

Once the applicant confirms eligibility based on the criteria, necessary documents may be prepared and collected. The required documents consist of two components: required documents and supporting documents. Depending on the applicant’s nationality, additional documents may be required. The required documents typically include the application form, your passport and a photocopy, two passport-sized photos, and any other documents further requested by the MOEA’s investment commission. The support documents serve to substantiate the qualification criteria. Supporting documents may include a business proposal with an innovation and entrepreneurship plan, patent certificate, or related documents of innovation capability as recognized by the central competent authority. Applications from Hong Kong and Macao are required to submit an extended list of documents, including a guarantee document and a health certificate. If the documents to be submitted are issued outside of Taiwan, then verification by the Straits Exchange Foundation, Taiwan Overseas Missions, or the Taipei Economic and Cultural Office will be needed.

Benefits of the Entrepreneur Visa Program

The Taiwan Entrepreneur Visa program offers multiple benefits for assisting entrepreneurs. One key advantage is the absence of the need to have a business already set up in Taiwan if the applicants’ startup or business plan meets one of the qualifying criteria. Besides offering founders and team members the entrepreneur visa, the program also assists successful applicants in relocating their eligible spouses and children with the eligibility for a dependent visa. After residing in Taiwan for at least five years with specific requirements met, the applicant becomes eligible to apply for permanent residency or citizenship if the applicant chooses that they want to immigrate or stay permanently.

How to Apply for the Taiwan Entrepreneur Visa

The application process for the Taiwan Entrepreneur Visa is relatively straightforward. The first step in the application process is to ensure that the eligibility requirements are met. Subsequently, applicants can download the application form from the internet, complete it, and gather all the necessary supporting materials. Depending on the applicant's location, they can apply for the visa at a Republic of China (Taiwan) Overseas Embassies & Mission, the Bureau of Hong Kong/Macao Affairs, the Mainland Council of R.O.C, or the Bureau of Consular Affairs of the Ministry of Foreign Affairs. From this point on, it is a matter of waiting for the decision or the request for supplementary material(s). Adhering to the official guidelines and submitting the application with all required documents greatly improves the chances of a smooth and successful application process. Below is the application process flow chart created by Taiwan’s MOEA to be referenced.

Summary

The Taiwan Entrepreneur Visa program was established to attract and support foreign entrepreneurs in establishing their businesses in Taiwan. The program offers a straightforward application process and several benefits for successful applicants. Once an applicant confirms their eligibility, fills out the application form, and collects all the necessary documents, they can then submit their application to the designated Taiwan government agency. If you are considering the Taiwan startup ecosystem to start or expand your business, the Taiwan Entrepreneur Visa could be an option worth exploring. Begin by reviewing the qualification criteria outlined in the Review Directions of Entrepreneur Visa Qualification for Foreign Nationals document to assess your eligibility.

Writing by Sebastian Chen